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Imperialism: A Product of Atavism

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Presentation on theme: "Imperialism: A Product of Atavism"— Presentation transcript:

1 Imperialism: A Product of Atavism
Joseph Schumpeter Imperialism: A Product of Atavism

2 Intellectual Environment of Schumpeter
Marginalist Revolution ( )and Austrian School of Economists Eugen von Böhm-Bawerk and Friedrich von Wieser Leon Walrus and Equilibrium Theory Austro Marxian School

3 Elite theories of Social Organization
Vilfredo Pareto (15 July, 1848, -August 19, 1923 ) Trattato di sociologia generale (1916) Robert Michels ( 9, Jan. 1876, Cologne,- 3 May, 1936 ) Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracy Gaetano Mosca ( 1 April November 1941) The Ruling Class (1896)

4 Schumpeter A Defender of Rational Capitalism
A Lawyer turned Professor at Czernowitz Theory of economic Development (1911) Founder of the Theory of Entrepreneurship Theory of The Theory of Economic Development: An inquiry into profits, capital, credit, interest and the business cycle , 1911. Economic Doctrine and Method: An historical sketch, 1914.

5 Schumpeter as a Politician and an Academic
German Socialization Committee Kiel School of Economists and German Marxists Such Kautsky and Hilferding Brief Tenure as Austrian Minister of Finance in 1919 President of Bank and Professorship at Bonn Harvard University in 1932 Mentor of Paul Samuelson

6 Veblen and German State
Influence of Thorstein Veblen Imperial Germany and the Industrial Revolution (1915) Comparison between Germany Britain The Idea of dynastic State End of Dynastic State

7 Schumpeter’s Idea of Imperialism
Influence of Economic Interpretation of History Proving Marxists Wrong. Imperialism is the object-less disposition of a state to expansion by force without assigned limits. Imperialism benefits a small clique.

8 Main Features of Schumpeter’s Thesis
Historical force of non-rational and irrational, purely instinctive inclinations to war and conquest Consolidation of Class of Warriors Internal Relationships and dominant positions of such a group in political and economic structure Imperialism is an atavism

9 Capitalism as an anti imperialist political economic system
Imperialism a Legacy of Monarchical State Capitalism as a rational economic system opposed to direct imperial conquest Dismantling of the special Interest Groups Pacific Capitalism

10 Weaknesses of Schumpeter’s Thesis
Too Deeply Embedded in Continental Context Failure to see new world wide context of Empire Foreign Trade led to Empire The Idea of Informal Economic Hegemony Predictions of Modern International Order

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